Money exchange for Singapore - At departure airport or arrival airport?

[midcoast1]

Apologies if this is answered elsewhere . Quick trip to Singapore Monday . Didn't get time to go to bank to change to SG dollars . Would it be best to get SG dollars at Kingsford Smith or when i arrive in Changi . Have always organized through the bank but this is a sudden trip and no time to get to the bank .
Thanks

 

[Hvr]

re: Money exchange . At departure airport or arrival airport

Do the exchange Singapore, Changi if you must, in the city for a better rate.

 

[here2go]

re: Money exchange . At departure airport or arrival airport

Do the exchange Singapore, Changi if you must, in the city for a better rate.

I'd go so far as to convert back to Skippys in Singapore too if you have leftover. Rates in Australia from experience are appalling. Curious as to whether this view is concurrent with everybody else on the forum.

 

[awilcockson]

re: Money exchange . At departure airport or arrival airport

Sounds like you won't have time this trip, but investigate getting a 28 degrees mastercard.

No yearly fees.
No fees if you withdraw cash from an overseas ATM (your card needs to be in credit for this to work, just don't leave it in credit for too long).
No conversion fees on international transactions (great for online purchases and buying stuff overseas).

On top of all of that, the exchange rates are generally almost exactly the same as the current xe.com rates, which is far better than any airport currency exchange.

 

[TonyD]

Re: Money exchange . At departure airport or arrival airport

Never exchange at an Aussie airport.
i usually just use cirrus or visa debit at ATM. Good rate but slugged twice for fees

 

[here2go]

Re: Money exchange . At departure airport or arrival airport

Never exchange at an Aussie airport.
i usually just use cirrus or visa debit at ATM. Good rate but slugged twice for fees

I experimented once with the Travelex multi-currency ATM at DRW. Rates and fees were worse than going downstairs. Best rates I've found in AU, if you have to have cash before you go, have been at UAE Exchange. Seriously though, get it over there.

 

[albatross710]

Re: Money exchange . At departure airport or arrival airport

Ditto on exchanging in Singapore. If you want to optimise, you can change an initial amount at the airport on the way past the counters. Then I find Mustafa Centre in Little India has a better rate again.

 

[markis10]

Re: Money exchange . At departure airport or arrival airport

Sounds like you won't have time this trip, but investigate getting a 28 degrees mastercard.

No yearly fees.
No fees if you withdraw cash from an overseas ATM (your card needs to be in credit for this to work, just don't leave it in credit for too long).
No conversion fees on international transactions (great for online purchases and buying stuff overseas).

On top of all of that, the exchange rates are generally almost exactly the same as the current xe.com rates, which is far better than any airport currency exchange.

Or a Citibank transaction account with a Visa debit card, same benefits without the need for a credit card, with the changes to credit reporting it may be a better option.

 

[Blackadder]

Re: Money exchange . At departure airport or arrival airport

Money exchanges at Airports tend to be rip off either on departure or arrival. (captive market)
Get into the city before exchanging any $$$$

 

[harvyk]

Re: Money exchange . At departure airport or arrival airport

Never exchange at an Aussie airport.
i usually just use cirrus or visa debit at ATM. Good rate but slugged twice for fees

Agreed, they give some pretty ordinary exchange rates. Consider them good only for emergencies, and only because you need cash on arrival and forgot to sort it out before leaving.

 

[midcoast1]

Re: Money exchange . At departure airport or arrival airport

Thanks for all the replies . I'll try and find an exchange centre in the city on Saturday when i get to Sydney . Thanks again to everyone

 

[trippin_the_rift]

Re: Money exchange . At departure airport or arrival airport

I'm always curious as to why folks want to exchange cash. Money changers need to make a profit too and the fees are always built in somewhere.
Why not use any local ATM with your aussie bank card? For it NOT to be worth it you would need to be changing under $150-200.

28degrees and Citibank cards are even better again! But for the sake of 5 bucks.......

 

[DeKa]

Re: Money exchange . At departure airport or arrival airport

Sounds like you won't have time this trip, but investigate getting a 28 degrees mastercard.

No yearly fees.
No fees if you withdraw cash from an overseas ATM (your card needs to be in credit for this to work, just don't leave it in credit for too long).
No conversion fees on international transactions (great for online purchases and buying stuff overseas).

On top of all of that, the exchange rates are generally almost exactly the same as the current xe.com rates, which is far better than any airport currency exchange.

Or a Citibank transaction account with a Visa debit card, same benefits without the need for a credit card, with the changes to credit reporting it may be a better option.

I completely agree with markis10 - the Citibank Plus is the way to go now (although not in the OP's case as he has such a short timeline). There's no point in using the 28 Degrees credit card in the way many of us have used it previously when you can use Citibank Plus as it is designed to get cash out with no fees and at almost a live exchange rate, and then use the 28 Degrees card as it is designed - for purchases.

 

[casanovawa]

Re: Money exchange . At departure airport or arrival airport

I completely agree with markis10 - the Citibank Plus is the way to go now (although not in the OP's case as he has such a short timeline). There's no point in using the 28 Degrees credit card in the way many of us have used it previously when you can use Citibank Plus as it is designed to get cash out with no fees and at almost a live exchange rate, and then use the 28 Degrees card as it is designed - for purchases.

What are the changes to the credit reporting that markis10 is talking about??

I only have the Citibank card anyway as when i applied for the 28 degree card i got rejected, but don't mind as the Citibank card seems to work just as well for what i need and it doesn't count as a credit card leaving me more freedom to apply for credit cards with points offers without having a bunch of credit cards already open... Or at least one less anyway...

 

[markis10]

Re: Money exchange . At departure airport or arrival airport

What are the changes to the credit reporting that markis10 is talking about??

An entry will be made for:

1. the type of each credit account opened (for example, mortgage, personal loan, credit card);
2. the date on which each credit account was opened;
3. the current limit of each open credit account; and
4. the date on which each credit account was closed.

As well as:

1. whether, over the prior two years, the individual was meeting his or her repayment obligations as at each point of the relevant repayment cycle for a credit account; and, if not,
2. the number of repayment cycles the individual was in arrears.

IE, one late payment - it gets flagged.

 

[browski]

Re: Money exchange . At departure airport or arrival airport

Arrivals Routine:

1. Use Apec Card to exit immigration first.
2. Whilst awaiting luggage, purchase 1 x 6 pack of duty free beer with credit card (or surplus cash from previous trip) and find out approximate aussie v local currency exchange rate.
3. Collect luggage and exit Customs
4. Go to Cirrus or similar ATM and withdraw couple of hundred aussie equivalent with cash.
5. Buy 2 x 1.5 litre bottles of water with local currency
6. Use ekit global roaming sim or buy/add credit to local roaming sim with local currency
7. Buy 1 x takeout coffee for taxi/train trip with local currency
8. Take taxi/train and pay/tip with local currency (unless visiting Australia, then pay by credit card because nobody carries the huge amounts of cash required to pay a cab fare in Oz)

 

[albatross710]

Re: Money exchange . At departure airport or arrival airport

I'm always curious as to why folks want to exchange cash. Money changers need to make a profit too and the fees are always built in somewhere.
Why not use any local ATM with your aussie bank card? For it NOT to be worth it you would need to be changing under $150-200.

Actually now you mention it I even used the ATM in the SIN terminal to change SIN dollars last time.

Even when I have changed cash in downtown Brisbane prior to departure I always get a worse rate than at Changi.

As a general rule I change sufficient cash upon arrival into a new country and do the majority through the 28 Degrees card at an ATM. My exception is Philippines where I carry more (but not more than P20,000) as the airport exchanges are likely to be closed, out of order, developing world problems etc etc.

To the OP have a great trip, spend your time on other things and change the money in SIN in just 1 minute of your time.

 

[Sprucegoose]

Never exchange at an Aussie airport.
i usually just use cirrus or visa debit at ATM. Good rate but slugged twice for fees

The TRAVELEX. Spreads are worse than.........,

Seriously Singapore is a financial hub there will be people there who know how the world spins.


Sent from my iPhone using Aust Freq Fly app

 

[fersea]

Re: Money exchange . At departure airport or arrival airport

Sounds like you won't have time this trip, but investigate getting a 28 degrees mastercard.

No yearly fees.
No fees if you withdraw cash from an overseas ATM (your card needs to be in credit for this to work, just don't leave it in credit for too long).
No conversion fees on international transactions (great for online purchases and buying stuff overseas).

On top of all of that, the exchange rates are generally almost exactly the same as the current xe.com rates, which is far better than any airport currency exchange.

This is what I will be doing when I go there in Nov.